Bitcoin (33k), Ethereum (2.4k), Luna Price Analyses

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Bitcoin Analysis 

Bitcoin’s price recorded its lowest weekly candle close since July 12th, 2021 on Sunday. BTC’s price also concluded its daily session on Sunday -$1,424 for its fourth consecutive daily candle close in red figures.  

The first chart we’re analyzing today is the BTC/USD 1W chart below by techpers. It shows BTC’s price attempting to cling to the last real level of support at $30k on the weekly time frame. 

Below the $30k level is BTC’s yearly low of $29,341. If that level is broken to the downside with a candle close for confirmation on the daily time frame, market participants may see a retest of BTC’s 2017 high just under the $20k level.  

The lack of support resistance below the $29k level represents the inverse of the path that BTC’s price took to the upside upon breaking the $20k level initially. BTC’s price failed to carve out strong support between the $20k level and the $29k level, so the potential exists for a swift move to the downside of the chart.

Bitcoin Analysis
BTC/USD 1W chart: the price is attempting to cling to the last real level of support at $30k

The Fear and Greed Index is 11 Extreme Fear and is -7 from Sunday’s reading of 18 Extreme Fear. 

Fear and Greed
Fear and Greed Index is 11 Extreme Fear

Bitcoin dominance is at 41.59%, at the time of writing.

Bitcoin Analysis
Bitcoin dominance chart

Bitcoin’s Moving Averages: 5-Day [$37,659.88], 20-Day [$39,434.13], 50-Day [$41,394.21], 100-Day [$41,908.00], 200-Day [$47,030.18], Year to Date [$41,161.39].

BTC’s 24 hour price range is $33,973-$35,358 and its 7 day price range is $33,973-$39,874. Bitcoin’s 52 week price range is $29,341-$69,044. 

The price of bitcoin on this date last year was $58,213.93. 

The average price of BTC for the last 30 days is $39,443.1 and BTC’s price is -20.1% for the last 30 days. 

Bitcoin’s price [-4.01%] closed its daily candle worth $34,084 on Sunday.  

Ethereum Analysis 

Ether’s price also recorded a lower close on Sunday than on Saturday and wrapped up its daily session -$116.01. 

The second chart we’re analyzing today is the ETH/USD 1W chart below from dRends35. Ether’s price has continued to sell-off with the macro cryptocurrency market. 

ETH’s price is trading between the 1 [$1,588.53] fibonacci level and 0.618 [$3,568.26]. 

The chartist points out that Ether’s price is mimicking BTC’s price action since the top of the market cycle. Each asset actually followed the same 3-wave retracement and topped at the 0.618 fib level at the peak of the 3rd wave.

Ethereum Analysis 
ETH/USD 1W chart: the price is trading between the 1 [$1,588.53] fibonacci level and 0.618 [$3,568.26]

Ether’s Moving Averages: 5-Day [$2,802.34], 20-Day [$2,937.37], 50-Day [$2,965.86], 100-Day [$3,060.72], 200-Day [$3,391.28], Year to Date [$2,965.77].

ETH’s 24 hour price range is $2,514-$2,633 and its 7 day price range is $2,514-$2,955. Ether’s 52 week price range is $1,719-$4,878. 

The price of ETH on this date in 2021 was $3,932.35.

The average price of ETH for the last 30 days is $2,940.45 and ETH’s price is -20.65% over the last 30 days.  

Ether’s price [-4.40%] closed its daily candle on Sunday also down more than 4% and worth $2,520.01. Sunday was the fourth straight daily candle close in red figures for Ether. 

Luna Analysis

LUNA’s price marked-down more than ETH and BTC on Sunday and concluded its daily session down more than 5%. LUNA’s price finished the day -$3.78.

The recent hot topic again around the Terra ecosystem is whether UST can lose its 1:1 peg with The United States Dollar if LUNA’s price sells-off strongly in a bear market.

Luna Analysis
UST’s price dipped below $0.99 briefly on Saturday

 

Luna Analysis
Terra’s Do Kwon chimed in about the controversy on twitter

 

Luna Analysis
UST was trading just under its sought after $1 peg, at the beginning of the new week

The third chart today is the LUNA/USD 1W chart below from illuminati_K027. LUNA’s price is still trading above the trend line the asset’s been forming since the beginning of 2022. 

If bearish traders can push LUNA’s price below the $52 level then the next real support and fib level on the weekly timescale is the 0.236 fib level [$22.89]. 

Luna Analysis
LUNA/USD 1W chart: the price is still trading above the trend line

LUNA’s Moving Averages: 5-Day [$82.32], 20-Day [$86.97], 50-Day [$92.07], 100-Day [$80.50], 200-Day [$57.91], Year to Date [$79.67].

LUNA’s 24 hour price range is $59.94-$67.57 and its 7 day price range is $59.94-$87.74. Terra’s 52 week price range is $4.08-$119.18. 

LUNA’s price on this date last year was $17.00. 

The average price of LUNA over the last 30 days is $85.79 and LUNA’s price is -36.4% for the last 30 days.  

LUNA’s price [-5.55%] closed its daily candle worth $64.30 on Sunday and in red digits for the fourth consecutive day.

Source: https://en.cryptonomist.ch/2022/05/09/bitcoin-33k-ethereum-2-4k-luna-price-analyses/